Apollo Beach Multifamily
For Sale
$119,900
104 SAINT KITTS Way, Apollo Beach, FL 33572
Multifamily property in Apollo Beach, Florida, for sale.
Property Size792 SF
Lot Size0.13 Acres
Days on Market269
Property Features for 104 SAINT KITTS Way
General Information
Standard status
Active
Size
792 SF
Lot size
0.13 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$1,263
Building Details
Building Size
792 SF
Year Built
1973
Stories
1
Listing Agency:
(301) 741-1795
Listed By:
Bill Leith · License #3287753
(301) 741-1795
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 10
Last Checked: Aug 23 at 10:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bill Leith
Investment Insights
Based on property information with market context.
A multifamily property located at 104 SAINT KITTS Way, Apollo Beach, FL 33572, is available for sale.
Key Highlights
- Year Built: 1973
- Price: $11
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,284
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$145,680
$145.7K
Cap Rate 7%
$104,057
$104.1K
Cap Rate 9%
$80,933
$80.9K
Market Conditions
NOI Build-Up for 792 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.3K $18.00/SF
− Vacancy
−$1.0K −$1.28/SF
EGI
$13.2K $16.72/SF
− OpEx
−$6.0K −$7.52/SF
NOI
$7.3K $9.20/SF
Area
Hillsborough County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$145,680
Cap Rate 7%
$104,057
Cap Rate 9%
$80,933
Alternative Uses
Best Use
Apartment 5plus
$104.1K
$91.1K – $121.4K
NOI $7,284 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$229.4K
$200.7K – $267.6K
NOI $16,056 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
Explore this area
Business Placement
Demographics for 33572, FL
22,395
Population
10,394
Households
2.2
Avg Household Size
47
Median Age
45%
College-Educated
97%
High-School Grad
13.1 sq mi
ZIP Area
1,710
Density / Sq Mi
$113,775
Median Household Income
$59,262
Median Earnings
$2,057
Median Rent
$430,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Apollo Beach, Florida, for sale.
Where is this multifamily property located?
The property is located at 104 SAINT KITTS Way Apollo Beach, FL.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Year Built: 1973; Price: $11
